Sunday, August 26, 2012

MVP: "TV5 and GMA7 parang may LQ. Sometimes on, sometimes off"

MANILA, Philippines - Businessman Manuel V. Pangilinan compared the ongoing deal talks between his group and GMA Network to a couple having "LQ" or lovers' quarrel.

"TV5 and GMA7 parang may LQ. Sometimes on, sometimes off," he said during an Internet & Mobile Marketing Association of the Philippines (IMMAP) event on Friday, August 24.

"[We're] currently on," he added.

The camp of Pangilinan, who chairs third-liner broadcast player TV5, has been negotiating with the controlling families of GMA Network, the second biggest media group in the country, since December 2011.

This is the third time the two groups have negotiated on a possible deal.

Felipe Gozon, chair of GMA Network and representative of one of the triumvirate behind the network -- the Gozon, Jimenez and Duavit families -- earlier said talks have stopped due to issues like price.

The deal, which involves transferring control to the Pangilinan group, was reported to be worth between P50 billion to P60 billion. - Rappler.com